When talk about tendering, it is involved some kind of complicated process and procedure. In other words, once accepted, a tender is a binding contract.
This means that the person or company that won the tender has to provide the goods or services in the manner agreed to and at the price offered, and client/government must pay the agreed price at the agreed time. Once client/government accepts a tender, it is binding on both parties. Although price is very important in the decision on which tender or bid to accept, it is not the only factor taken into account. The tender process is designed to ensure that the work to be done for client/government is given out in a fair way. Initiating step of a tendering process in which qualified contractors are invited to submit sealed bids for construction or for supply of specific and clearly defined goods or services during a specified timeframe. A tender can be said as an offer to do work or supply goods at a fixed price.
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